GASNY - Repsol: Trying To Balance Cash Flows And Capex
Introduction
Just two months ago, I argued Repsol (OTCQX:REPYF) (OTCQX:REPYY) was trading too cheap as the higher oil price and robust downstream assets were starting to generate a lot of money. On top of that, Repsol has one of the most conservative balance sheets of the integrated oil and gas players, and the net debt position will be slashed again once it completes the sale of its 20% stake in Gas Natural (OTCPK:GASNF) (OTCPK:GASNY).
Source: finanzen.net
Repsol was trading at just 14.25 EUR/share for a total